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Fly News Breaks for July 20, 2018
PZZA, DPZ
Jul 20, 2018 | 08:26 EDT
Maxim analyst Stephen Anderson kept his Hold rating and $285 price target on Domino's Pizza (DPZ), saying the Q2 EPS beat reported yesterday was driven by a lower than expected tax rate. The analyst adds that the company's blended 6.9% increase in comps as well as its royalty revenues also missed projections. Anderson further states that investors will likely be concerned with the slowing momentum internationally, as the two-year stacked comps for overseas markets were the lowest since the late 1990's. The analyst believes that the downside over the near term will be limited amid the recent troubles at Papa John's (PZZA), but prefers a deeper pullback in Domino's Pizza before taking a more constructive stance.
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